Business and Financial Services Project Accounting prepares capital project funding request documents to establish 36 accounts. These accounts include unexpended plant funds and renewal and replacement (R&R) funds. Unexpended plant funds are funds specified by the UT System Board of Regents or by other sources for the acquisition, construction, or improvement of physical properties to be used for institutional purposes. R&R funds are those funds specified by the Board of Regents or other sources for use in the renewal and replacement of plant fund assets.
Funding Sources
These funding sources are used in establishing capital projects:
- Available University Fund (AUF)
- Federal, state, and local grants
- Gifts
- Investment income
- Permanent University Fund (PUF) bond proceeds
- Revenue Financing System (RFS) and Tuition Revenue Bond (TRB) proceeds
- Auxiliary balances
- Other (includes designated tuition, facilities and administrative recovery, other self-supporting designated balances, insurance claims, and land proceeds)
Rules and Restrictions
The following rules and restrictions apply to funding capital projects:
- Expenditures must be directly related to the project.
- Restrictions pertaining to the original funding source also apply to the project account.
- Operating income cannot be deposited directly into plant fund accounts. Such income should be deposited into the appropriate operating fund account and then transferred to the plant fund account.
- Salaries cannot be directly charged to 36 accounts, but may be transferred in as distributed wages.
- University purchasing procedures must be followed. If a project is funded with AUF funds, then state purchasing rules must also be followed.
- No entertainment expenditures are allowed.
- Travel is rarely used in connection with a project.
Process To Request Capital Project Funding
- Requestor completes and submits the request to transfer funds via email. Approval from an authorized signer on the account acknowledging the account number and amount to be utilized should be attached.
- Project Accounts team will process the request to establish a 36 account.
- Once the account/funding has been approved by Accounting and Financial Management, an account technician will update FAMIS to reflect the funding and notify the requester.